question can a layered question I
ultimately I think if you make a great product interest much snapshots which was not
exist launch party was no like big to do you
know like like Instagram system was in the ecosystem he did get the cabin roses
and you know and i was just a small part of the text I would argue stunningly
little I think we’ve seen a ton of people have a big party the big hype you
know we’re gonna do it look at title even with its recent success I’m not
bullish on that in the long term me know you know they had madonna and
hope everybody’s there and like so I think way too many people over promise
under deliver I think way too many people try to selling the sizzle and I
would say net net we look at River I was there is no big launch just work right
away I think we look at 250 apps you know exactly what was the launch music
actually argue that most of the apps that are successful didn’t have some big
launch early momentum is good but we’ve seen early momentum fade very quickly I
think your thesis of your business has to matter I think at the end of day this
is absolutely tortoise and the hare and I think the total wins every time and so
I think that I think it has a lot to do with ago and it feels really good enough
first-year founder cool you’re hot you might be on the cover of a magazine and
being featured on TechCrunch but I just don’t think it’s how you start it’s how
you finish and very honestly I would tell you that most of my confidence and
most of this thing that you guys feeling almost of this order to help you want to
call it comes from knowing what’s going to happen I’m 17 out what’s happening could be somebody watch this moment one
day and I’m glad I had so much as I

what would you do with it? How would you change how it
delivers news/earns revenue?” – If I own a small newspaper I
would hopefully own one that had big brand equity even
though in a small market. So even if it’s Bethlehem,
Pennsylvania if it’s the Bethlehem Times or
whatever the local paper, actually the Easton Express. Isn’t that their paper
there, the Easton Express? – [Staphon] Oh yeah. – Do you know the
Easton Express though? – [Staphon] Yeah, yeah, yeah.
– There is an Easton Express. So if I owned the Easton Express
that’s a very important thing in that part of Pennsylvania and I
would turn the equity and this is where Jeff Bezos was
brilliant with buying the Washington Post he didn’t
buy it for the print, he bought it for the brand. And to the Easton Express to
that small area of Pennsylvania matters quite a bit for Lehigh
Valley and I would try to make the digital modern version. Today, I would make an app that
is the absolute news app of the moment, notifications driven. I would digitize the IP and try
to milk the print revenue for as long as I could but I would
assume zero print revenue in a 10 year window all IP value being shifted into
something else. Same reasoning 92nd
St. Y is so insane. Do you know how this played out? You know how I talked about
Nintendo at 92nd St. Y and a month later they announce
that they were going to do it. A lot of people
were like you knew? Yes I’m that wired in. CEO of Nintendo’s hitting me up. That’s what I would do. Nintendo smartly finally has
understood that they’re going to take the IP and take it
to the relevant place. That’s what I
would do a newspaper. I would take the IP and I would
take it to and relevant place. I would also create
revenue around event marketing. Instead of taking advertising in
my print, I would take one full page to invest in my
own events business. Like the Fall Festival. And I can use the newspaper and
its awareness to build up this events driven business and every
year in Philipsburg, New Jersey there’d be a Fall Festival
for the Lehigh Valley of Pennsylvania and New Jersey area
and so I would siphon the waning attention and I would deploy
it into new environments like digital content and other
revenue streams like events. That was tangible and tactical. And really maps to
everything outside. I think of everything in IP
transfer to the modern world, not just the newspaper. So if about a 1980s
cartoon IP, the Wuzzles,

apps would you take
to bring you joy or– – Instagram number one because
it’s soft porn and I need that. (audience laughter) I mean I’m going to
keep it real, right? I didn’t really hear it. Deserted island? – [Gabrielle] Desert
island, three apps. – Instagram soft porn one. Apps? Safari so I’d have
the entire Internet. (audience laughs) I’d be set. I wouldn’t need
anything after that. And probably… – [Man 4] Grindr. (audience laughter) – I mean if there was only one
other dude on the island Grindr would be right. And I would say
probably messenger, right? The default messenger
thing, just communication tools. Cool thank you. Let’s do it.
Who’s got a question?

said we are now charging for your
username would you pay to keep it matters to west at Jimmy Kimmel think it
matters like what are they gonna charge like if if if I dot com came out it was
the next big thing I want to be on it worth banker or if if the snapshot even
came around and said look we were out and we all know the names and if you
want gary b ecause you’re one of the people that we’ve deemed 50,000 people
that has a reasonable to them that we’re gonna charge you a hundred bucks a year
for it you know I actually don’t think it matters meaning what I paid sure what
a lot of you pay it no would hold back the after winning maybe I don’t think
any would ever take the chance to not become a big platform because a lot of
people wouldn’t sign up for it because those people were upset that somebody
was charging for them the and so I think the PR standpoint and a branding and
positioning standpoint most absurd if they do if they have the best product in
the world you pay for it nobody knows what would I pay Rachel
actively probably yeah probably and I wouldn’t give a crap about it like you
know what are they going to charge you can’t charge enough you know what i mean
they’re not the internet they’re not gonna meaning like every one of them is
too smart and is too big of a business to sit there and say ok like why would
they charge Facebook makes a billion dollars a quarter you think they want to
take the vulnerability to make an extra fifty million dollars top-line revenue
and listen to me and I’m not dressing and you theres just sometimes not a good
understanding of Big Mac pro-business behaviors like let’s just bring it down
you think Facebook how much revenue think this will be able to make and
charging for the exact what’s the most you think somebody can charge a human
forget about pepsi for the need for a year and let’s get to it what a month for over 500 bucks big
fucking deal in the scheme of things I’m in the top 10% of 1% I don’t know of
humans with fan bases right like there’s no money in it so like the problem that
a lot of people do is they think about it too much of a micro level there’s no
money in its own level up thinking Jimmy and crew like cool yes but never happen
because it would break the border ability is so much greater than the top
line revenue when they’re making revenue in other areas theoretically yes no it doesn’t matter I
mean the question matters you may appreciate I think it’s a good
opportunity to lessen up for the masses of like you gotta understand the reason
we’re good salesman as i understand what person wants another reverse engineer it
right this money it’s a business that money is not more valuable than the
vulnerability that they put on their other monies to I’m spending more money
on a Facebook ad today on Facebook and charged me for the year for the name so
why would a credible and believe me getting emotional that they pulled the
rug from underneath me and left a platform right kind of thinking yeah
garry so has this credit copeland here

think of the new emerging social-media
peach a fatter something revolutionary had no idea but I do know this guy who
created who’s who in his team created mine is an extremely talented product
person I’ve been flirting with it I’ve been testing the peach a little bit and
what’s the fun I know you were all I was really weird I literally just that was a
one audience value prop statement I’m not ready to say that it’s gonna be here
forever the sin that clearly it’s a beautiful product clearly early tech
nerds fallen in love with it are playing with it it’s got my attention but very
little right now because of incomplete snapped up storm only so many hours in
the day but I’m gonna flirt with it over the next couple of weeks months watch
consumer behavior that sticky has been plenty of apps the cuts come out in the
tech world with enormous fan fair that have had 169 so it’s gonna be Plurk just
something a lot of you don’t remember from 2008 is going to DailyBooth change
and I thought was gonna be the biggest thing ever because my agents right
basically became Instagram but it didn’t win we’re gonna become interim steps yet
so I don’t know I’m excited about the chap chap still have a lot of room
especially something like this but you know a lot of users from the early
investor believing that product was revolutionary but not here anymore fully win and so you know it’s an
exciting thing I like watching new trends I do think so fun you should get
it in the corner here while i’m talking bout peach if I gotta
soon as a video on youtube or anything like this one looks like and things that
make sure so I guess you can edit that are repin I don’t give a shit that’s it
so that that’s by the way to bring value

becoming more crucial to businesses
custom maps and much for them you tell me your media got it ok understood and
so what is the question going through the next half decade 2016
through 2020 and you have the chops to build an incredible app that people will
use like okay yes my just my belief is that that’s far and few between even the
Fortune 500 companies let alone rick’s lobster roll stand in st. Louis Missouri
right so you know I think the answer is yes but the commitment and dollar amount
and energy that needs to be deployed to building in consumer app that actually
brings value to individuals is very very very difficult I mean even things that
are hard core utilities like banking apps like are doing well but you know
not as well as you’ve really got to really think about it just hard it’s
really really hard so I would say for the ninety-seven percent are watching
here I would not recommend building an app for your business because I just
don’t think you’ll build it won’t be able to have the right ratio of the cost
of it for ya just just to be it’s kind of like you know it’s kinda like it’s
kind of like web.com 1996 95 97 98 I was there are a lot of people spent if the
$100,000 on building their website that the website then bring them any value
because they make a good enough website there was enough demand for their
website I can see I know what’s happening now and I could see it getting
worse in the small mid-size business world of building apps are yes you think
it’s necessary to learn the rules before you can break them that’s a really good
question do I think I think the answer

“Is it wise to form a startup
around an app or website “which will solve a problem,
but without yet knowing “how to monetize it?” – Yes, Anthony. Solving problems in utility form is one of the greatest ways
to make a shitload of money. You know, for, I mean like, absolutely. Like, like, if you, you know, yes. I’m like, anytime you solve things for, anytime you solve things for people, monetizing becomes the
easiest part of the equation. The reason I’m pausing a
little and jumping around, Vayner Nation, is I’m
rolling with disrespect for Anthony, ’cause. It’s Anthony?
– [India] Mmhmm. Because it’s, it only
speaks to me not believing that you’re gonna solve the problem, to be very honest with you. It, it like, I have a bad
feeling in my stomach. Anthony, I love you, thank
you for supporting the show. I have no interest in dropping venom on Halloween here, but, um. Yes, that’s so like crazy to think about. There’s a million ways to monetize. If you actually bring value to people, even if you make people laugh
and escape their real life, you make tons of money. It’s called the entire
entertainment business. Right? Like, if you solve something tangible, like invent a car so we
don’t have to take horses, ya sell it. Like if you make something, sell something that’s a thing that makes thing better, you monetize by charging
for something that, I’m just. I don’t even wanna answer this question.
– [India] Sorry. This is crazy question. – [India] I’m sorry. – Again, the last part,
even if you don’t know how you’re gonna monetize it yet? – [India] If you don’t know yet know how you’re going to monetize it. – You’re gonna sell it! You’re gonna sell it. You’ve solved a problem, you’re gonna sell it! Either to a human, or
to a business that wants to sponsor the fact that we’ve
solved somebody’s problem, which is the height of value in humanity. – [India] Mmhmm. – Oh look, I created this potion that makes people feel better. How am I ever gonna make money? I mean, what the (bleep). I mean seriously, people. We’ve done this for 158 shows. Like, seriously. Ah! I wanna, I feel like I might,

“largely the same messaging, safety. “Is their sheer size saving
them from disruption for now?” – Yea, I’ll jump in on this
one because I’m spending a lot of time with Silicon
Valley and that’s really, what’s going on in Silicon Valley now with
start ups that are looking to attack banks, and if you look
at what’s going on in general with like Venmo and so many
other things that we’re living through, yea I mean,
I think banks have enormous infrastructure and have
a value prop, but there’s enormous amounts of destruction. I think the question alludes
to a marketing message, and I think it’s actually gonna be more of a utility message. When you start layering,
you know it’s funny, BitCoin has been not a top
of mine in the start up world recently, but block chain
mentality and just the innovation around financing
and the financial sector is going to be pretty aggressive. I actually think a lot of
bank’s messages are not necessarily just about safety. I think it’s about creating
indulgence and empowering you to do the things that you want to do. I’ve watched a lot of
the banking messaging, as we start planning on
getting into a couple of clients in that sector. I think what’s way more
important is that bank’s brands in our society are very poor,
because of what happened with the Wall Street melt down
and things of that nature, and I think a lot of banks
have been very slow to properly transition to mobile and so there’s a lot of
white space and a lot of innovation coming that, and it’s funny I can see the sharks circling around the banking sector in SF
and it’ll be interesting for the next decade. Keep it going. – [Voiceover] Alex asks, “What
do you want to be remembered

– Great question, I’m sure
it’s on everybody’s mind. I’m sure, you know, Staphon real quick, I think we should settle
this out into its own video. This is a very intriguing thing. This charging for the replays on Snapchat. To me, this feels tactical. What I mean by that is I do not believe that the powers at Snapchat, I have no knowledge of this, think this is a big time
revenue source for them. I think what Snapchat, I’m so impressed with Snapchat that they know they need to stay fresh. Right, we’ve also got that. Are you going to ask the question later about the new selfie thing? – [Steve] No, I was
just going to leave it– – Cool. So I’ll use that in my answer. I think technology companies
need to have updates. Need to stay fresh. And I think Facebook
did that extremely well. And honestly, over the last half decade, you know especially the
last three or four years I think Twitter did that poorly. I think Instagram’s
showing that capability. Different filters, different size. Even if it’s not a big deal. And Snapchat is showing that ability. With Snapcash if you remember. And that’s not the biggest
thing in the world. I think it’s a quick little play. Clearly look, they’re trying
to position towards an IPO, and so here’s what I
think the strategy is. One, we make the users of Snapchat feel like there’s still
things going on, right? The new selfie filter thing which is wild. I mean, we might as well just do it here. I know you’ve got rainbows
coming out of your mouth. I get it. But you know, I think that’s part of it. And look, and I think what’s
really smart about the replay, what is it, three for
99 cents kind of thing? What I think is super smart about that is I don’t think they expect, I
don’t buy anybody at Snapchat thinking this is going to crush. Right, here’s a good example. Watch this. Staphon, you going to do any of it? – [Staphon] No. – DRock? – [DRock] Maybe not. – No, no, don’t say what I’m leaning to. I want to know. – [DRock] No, no, no, no, no, no. – [Steve] I’m going to do it once. – That makes sense. – [Steve] I want to have them standing by for emergencies. – Would emergencies be
that a lot of female Vayner Nation people
find you more attractive with your new facial hair and may send you the kind of snap that gets you to want to maybe replay it. – [Steve] That’s exactly what I mean. – That’s what I figured. So you know, I think
that’s the cliche joke that people are going to
make about the replay. What I just did, that was on purpose. I think there will be a small subset that will do it one time. Which wouldn’t be hard, I mean listen. If everybody on Snapchat does it one time, you got a 150 million
people spending a buck. That’s 150 million dollars. It could add up really quick. I don’t expect that to be
the case, but to the point. God forbid that’s the kind of play. I always say God forbid it does work. God forbid everybody does want to do it. 99 cents feels right to everybody, and all of a sudden it becomes
a massive revenue stream. There was no loss. I’m a big fan of doing
things that have no downside. Now if you do a ton of features, and notice how both came out. An amazing selfie feature that I think everybody’s going to love along with this kind
of paid kind of thing. I think it was brilliant. A really well executed update. One of my favorite updates
of the year by any platform and so what do I think about it? I don’t think it’s a revenue stream that is meaningful for Snapchat. I think when you take it to a higher level and think about the strategy of a update for one of the leading
consumer apps in the world, I think it’s downright phenomenal. I also think that was a
downright phenomenal answer

code has made in that should do in order
to guarantee success as a tech entrepreneur after college thanks very simply that it’s a good point before I get into it
is a good good moment to tell everybody to keep pumping out questions I am very
much watching and sending India stuff I really want more more videos Instagram or Twitter hashtag get a scary
be there something about this kid that really stuck with me I’m gonna go into
production I fundamentally believe this kid is gonna be massively successful
email me this video in 12 years saying hey cool and so you know what I really
want to tell you is to hang around to hang around people that you that you
want to be like without another person sometime more fans than whatever time hang around as many people that you want
to be like as possible I’m a funny feeling you have all the pieces now
about the connections connections are grossly underestimated I would in turn
every summer between now and whenever you’re ready to your own thing people
that you want to be like for people who want to be like organizations that you
want to be like network networking was clearly the thing that i watch the video
and I was like network did just get out there meetup.com you people go on Twitter
Search just say hey to people join as many networks get yourself out there
into the real world to give gaps say hi to India’s went to college you know that
kind of thing just get out there and say hello to people meet as many people and
be around like minded people be around like minded people be around winners
hustlers ambitious entrepreneurs spent summers in San Francisco but there’s
texting popping up everywhere but it’s about these 526 internships that you can
sneak in between now and the beginning that I think we’ll have disproportionate
value for you and don’t take an internship at Facebook Apple where you
will never touch the Genesis the seed coat a smaller places that are people
like you want to be like so that you can taste it so you can be close to it been asked to talk a lot of itself when
his you think this can prevent people from pushing past their comfort zone I’m
not sure what means do I think